Topic: 2013 survivors club (Read 2203 times)

I post therefore I am. I am therefore I must have survived. Feeling is just a bonus.

Just checked..

All my coins in cold storage are still there..  My miners are still mining ...  Hot wallet still has coins ...

Did something happen recently to the protocol I'm unaware of ? 

What's all of this "did you survive" stuff all about anyways? 

Sigg

If this were a stock then a crash would likely be the end. That is true of stocks because the money is needed to run a business. In bitcoin there is only supply and demand. It can soar or sink repeatedly without collapsing because there is no one to collapse.
A lot of people have bought recently with no real knowledge of what bitcoin is. These are shaky hands in a hyper-liquid market. If they panic sold I hope their lesson was not too expensive.   

Came out of this with increased holdings in both BTC and fiat. I would say I survived

Didn't buy or sell, just sitting quietly over in the corner mining away.....

Same here. I am here for a long run.

 
 + This was really good experience to have as a young guy. I mean this teached lot about risk management for me. Crash teaches always something. Real losers are the ones who make same mistakes again, not the ones who learn about them.

I wasn't talking about how you feel.

Most of the money I involved in 2012 and 2013 BTC economy is still in BTC. An I do not feel like non-survivor.

Only survivors are those who cashed out the greater part of their holdings to fiat in 2013 and ended up with more than they had put in. If most of the money you involved in the BTC game in 2012-13 is still in BTC at this time, you're not a survivor.

Bought at $10, a reasonably sizable amount.

Watched it go up, planned to cash out 10% of my holdings at $290 but too bad, we never got there

With the falling knife I did a small short sell using 5% of my BTC holdings which netted me another 10 BTC. Just so I could say I profited from all this, even if it was just a little.

I'm still keeping it all.

I hate Gox as much as the next guy but thats the main exchange for now, so I've got fiat on the way to my trading account there.

I will be buying more very soon. My money can't hit the exchange soon enough.

Despite a sizable holding of BTC ATM, I want the price to tank. I want moar!!!!

I bought most of my coins between £3 and £7.

I sold a few at £20

Sold a few more at £30

Bought a few at £45

I then had 95% of my coins tied up in the instawallet hack. So they are all in limbo. (Forced 90 day hold for whatever % i get back)

The remainder i am holding tight.

Then I'm bidding 0.050002

Should that ever happen - I also left a few thousands on an exchange (NOT Gox), half BTC and half USD.
So I'll beat your offer and buy at 0.050001 

I'll be buying 100,000 BTC at $0.05 each pretty soon.

Sold at $235, and I plan to buy when I think it's bottomed out. Maybe I'll miss the bottom, but I'll make a juicy profit either way; the only question is how juicy.

I don't know who bought at $235, but I can only hope they didn't sell, because eventually (perhaps even soon) the price will shoot back up, and they'll look back on this and laugh. But they probably did sell, and now they're curled up in a corner trying to drown themselves in their tears. Oh well.

Mined some in 2011 and kept them during all this time. Sold 30 @44$

Was furious during the whole time at myself for letting go that easily.
Tried to hop in a few times during those minor corrections but missed the chance due to LAG.

Waiting for single digits!

Bought at $70. Was cheering now I'm pissed 

There has been a complete reversal of sentiment compared to the first of the year 2013. Recall the enthusiasm as bitcoin climbed towards its all time high of 32. Without that enthusiasm, how can a price above 32 be justified now.

I expect a long and slow decline with great buying opportunities.

When I learned more about bitcoin about half a year ago, I was fascinated by the underlaying principles of its working. Mathematical certainty, cryptography in the place of trust, decentralization, ability to express freedom and independence on goverments, banks and single-ponit-failures. I am interested what inherently deflationary currency will do.
I also like the ideo-economical climate surrounding early adopters and enthusiasts, ideas of free-market, libertarian ideas and at the same time possibilities to develop and run "social projects" based on bitcoin in the environment of unreliable trust. I mean projects like shared resources (multi-signed wallets), fund-raising campaigns (with provable assurance of funds return in the case of failure), shared and smart property, microtransactions, and even some advanced concepts like colored coins. On the other hand even the ones doing "socially unpopular things" like gambling, speculating, hoarding, financing ideocrimes, buying drugs cannot be hindered just because majority disagrees about how others should run their lives. I regret that I am unable to process all information and knowledge about bitcoin and I greatly admire Satoshi's genius for designing such well-balanced system.
So I tried bitcoin faucets (most were closed), tried mining (only to find that several yers old GPU won't do) bought a few (too few in a hindsight!) bitcoins when they they were about $12 each... Later, when I witnessed rapid increases and decreases in BTC value (expressed in something called fiat currency :-]), I started thinking about actually making some "real" money, invested a little bit at about $75 leveland then at $180 level, experienced ups and downs, cashed out a little by buying some tangible useful stuff (small knife), I even managed to order one or two Casascius coins. However, I do not consider bitcoin as investment into fiat currency. Primary reasons why I keep and intend to keep some bitcoins are ideas stated earlier. It would be unwise to invest more than you can afford to lose.
Currently, considering last several days, I am at net loss in USD, I did not expect the value to fall bellow $100. Withdrawing all BTC and USD from MtGox (I lost my confidence in this centralized juggernaut) was more important for me than speculating with bigger amount of BTC de facto under MtGx control in the hope of minimizing loss. I transfered something to LTC and I am preparing for other ways to trade.
I thing that bitcoin will eventually recover and emerge stronger. Maybe (but just maybe) recent volatility is a very beneficial to refine bitcoin community and postpone mass adoption by less informed big players focused at speculation and thinking in fiat. How long until situation stabilizes... that is hard to tell. But these are definitely interesting times :-].
Bitcoin is hashing, doing mathematics and still alive...

Respect.

I felt I need to go away from this emotional rollercoaster - but have no intention of leaving the building. So I got to a compromise.
I reduced my exposure to heart failure by taking out, in fiat, 126% of my initial investment (bitcoins and GPUs).
I still have 252% of that initial investment (at current rates) in BTC. This is going to be my savings wallet.
The wallet's private key has been exported and stored in a secure place which is not easy for me to access. Then I removed it from the client. So I am not tempted to panic sell.

I'm also keeping a separate BTC wallet for petty cash. Possibly when this shitstorm is over I'll use it to buy stuff that - unfortunately - currently is still priced in fiat.